Donald Douglas: Obama Administration Closely Monitoring Dubai Debt Default
See? I told you.
More at Memeorandum, but...
Wall Street ended the day lower on Friday, reacting to reports that Dubai World, the emirate’s investment vehicle, was seeking to suspend repayments on all or part of its $59 billion in debt for six months.
The exchanges all closed lower on a shortened trading session with light volume.
At the close, the Dow Jones industrial average was down 1.48 percent, or 154.48 points at 10.309.92. The broader Standard & Poor’s 500-stock index fell 1.72 percent or 19.14 points to 1,091.49, and the technology-dominated Nasdaq slipped 1.7 percent or 37.61 points to 2,138.44. The equities markets, however, closed off their lows of the day — the Dow was down more than 225 points moments after the open. [...]
Currently this is causing our markets to semi-crash. I remember way back when Dubai started doing their "attract the Westerners" gig and I thought to myself; "Yep. They are copying the American do-nothing Congress Critters" and looky here. Just like a good libtard. Build something and then ask for a bail out. Typical. I hope they sink and go out of business...just like our Congress Critters are doing.
Donald Douglas says:
[...] Well, who knows? Better ask the White House, where the crack financial advisors there basically helped GE finance its sharia bond buys, "GE Capital Plans $1 Billion Islamic Bond." See, "Obama’s Hidden Bailout of General Electric," and "Does G.E. Stand to Gain From the Obama Administration?" [...]
Dubai bubble. Asshats. GE. Asshats. Obama. Asshat.
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